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13:53
STATE COMMISSION FOR FINANCIAL SERVICE MARKETS REGULATION NOT TO INTRODUCE TEMPORARY ADMINISTRATION AT ORANTA INSURER

Kyiv, August 6 (Interfax-Ukraine) –The state commission for financial service markets regulation has not made, drawn up and discussed a decision on the introduction of temporary administration at OJSC National Joint-Stock Insurance Company Oranta (Kyiv), the commission said in response to reports in the mass media regarding the insurer.

The commission also said that it has not made any decisions on the restriction, suspension or cancellation of Oranta's license.

The commission said on Thursday that it oversees the solvency of Oranta and positively views the actions of its management and shareholders aimed at its capitalization.

The commission warned financial service market players that they cannot use illegal competition methods linked with attempts to discredit the business reputation of other market players.

The commission asked law-enforcement bodies to punish those who spread the false information regarding Oranta.

On August 4, the Moscow Post published an article referring to a well-informed source, where it is reported that the seizure of Oranta is being prepared to remove the company from the control of BTA Bank.

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